Do You Know What A Blood Oath Is, Mr Ness? "Yes" Good, Cuz You Just Took One. (In Ben We Trust)

In Ben (Only) We Trust
This blog has pointed out that the market believes in one, and only one, decision-maker. That is Ben Bernanke. Period. Do not pass go. Do not collect $200. Today, dragging the seven dwarfs in tow, Ben "Snow White" Bernanke must've watched The Untouchables last night.

Here is what he said (actually Sean Connery is a Ben Bernanke doppleganger, don't you think?) to the rest of his monetary chief counterparts.



The rest is history. We can moan "they can't do that," "this is no solution," "this will devalue the dollar and bankrupt the U.S.," etc all we want, but that is not the point. The point is that Ben Bernanke fears one thing and one thing only: the liquidity trap zone. He will do anything to avoid it, even pulling out clips from movies 20 years old. The market has been lulled to sleep forgetting that fact. That all said, this clip has been played out before, and immediately preceded Bear Stearns, Countrywide, and AIG in quick succession. Forbes speculated today that something similar was noticed last night. Maybe, maybe not. Maybe this will prevent us from ever finding out. At this point, we know that the only one we trust, Ben Bernanke, still has the market's back.

In Ben (Only) We Trust.